Andrew Bailey, Governor of the Bank of England, gestures as he addresses the media during a press conference at the Bank of England in London, Thursday, Aug. 1, 2024. The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020. In a statement Thursday, the bank said that by a 5-4 margin, its nine-member policymaking panel backed a quarter-point reduction in its main interest rate to 5%, from the 16-year of 5.25%. (AP Photo/Alberto Pezzali, Pool)
The Bank of England in London, Thursday, Aug. 1, 2024. Economists are divided as to whether the Bank of England, which is independent of government, will cut its main interest rate by a quarter-point from the current 16-year high of 5.25%, or hold off until September.(AP Photo/Alberto Pezzali)
The Bank of England in London, Thursday, Aug. 1, 2024. Economists are divided as to whether the Bank of England, which is independent of government, will cut its main interest rate by a quarter-point from the current 16-year high of 5.25%, or hold off until September.(AP Photo/Alberto Pezzali)
The Bank of England in London, Thursday, Aug. 1, 2024. Economists are divided as to whether the Bank of England, which is independent of government, will cut its main interest rate by a quarter-point from the current 16-year high of 5.25%, or hold off until September.(AP Photo/Alberto Pezzali)
Andrew Bailey, Governor of the Bank of England, gestures as he addresses the media during a press conference at the Bank of England in London, Thursday, Aug. 1, 2024. The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020. In a statement Thursday, the bank said that by a 5-4 margin, its nine-member policymaking panel backed a quarter-point reduction in its main interest rate to 5%, from the 16-year of 5.25%. (AP Photo/Alberto Pezzali, Pool)